Sen. Ron Johnson: We Can’t Continue ‘Mortgaging Children’s Future’

BARTIROMO Joining me now ░░░░░░░░ Wisconsin Senator Ron Johnson ░░░░░░░░ member of the Senate ░░░░░░░░ and Budget Committees Senator ░░░░░░░░ to see you Thank ░░░░░░░░ so much for being ░░░░░░░░ And you ve also ░░░░░░░░ some similar sentiments You ░░░░░░░░ there s enough Senate ░░░░░░░░ to hold up this ░░░░░░░░ Your reaction Johnson Good ░░░░░░░░ Maria Again like Senator ░░░░░░░░ I support President Trump ░░░░░░░░ know we want to ░░░░░░░░ him succeed We want ░░░░░░░░ see America succeed But ░░░░░░░░ ran in 2010 as ░░░░░░░░ of the Tea Party ░░░░░░░░ because we were mortgaging ░░░░░░░░ children s future Back ░░░░░░░░ we experienced our first ░░░░░░░░ in excess of a ░░░░░░░░ dollars under Obama But ░░░░░░░░ were 14 trillion in ░░░░░░░░ Now we re approaching ░░░░░░░░ trillion in debt Senator ░░░░░░░░ said over the next ░░░░░░░░ years we ll be ░░░░░░░░ 60 trillion And Maria ░░░░░░░░ s that s a ░░░░░░░░ scenario The CBO s ░░░░░░░░ year projections says it ░░░░░░░░ add 22 trillion to ░░░░░░░░ federal deficit But that ░░░░░░░░ taxes automatically increasing bringing ░░░░░░░░ almost 4 trillion in ░░░░░░░░ That doesn t happen ░░░░░░░░ you can say economic ░░░░░░░░ can replace that But ░░░░░░░░ s also assuming a ░░░░░░░░ 3 percent interest rate ░░░░░░░░ that time period You ░░░░░░░░ seeing interest rates move ░░░░░░░░ as investors are starting ░░░░░░░░ look at the United ░░░░░░░░ as not particularly a ░░░░░░░░ worthy entity So we ░░░░░░░░ to get focused on ░░░░░░░░ spending spending I ve ░░░░░░░░ a great video on ░░░░░░░░ X page showing President ░░░░░░░░ committing to a balanced ░░░░░░░░ and members of his ░░░░░░░░ saying we don t ░░░░░░░░ a revenue problem We ░░░░░░░░ a spending problem I ░░░░░░░░ that video with the ░░░░░░░░ so are we willing ░░░░░░░░ fix it right now ░░░░░░░░ House bill that I ░░░░░░░░ scratching the surface and ░░░░░░░░ mean it s not ░░░░░░░░ the tip of the ░░░░░░░░ in terms of what ░░░░░░░░ need to do to ░░░░░░░░ to a reasonable pre ░░░░░░░░ level of spending This ░░░░░░░░ unprecedented what s happened ░░░░░░░░ 2019 to today It ░░░░░░░░ a 50 percent increase ░░░░░░░░ Yeah Johnson It s ░░░░░░░░ Returning to a reasonable ░░░░░░░░ pandemic baseline Again you ░░░░░░░░ use the metric of ░░░░░░░░ we spent in 2019 ░░░░░░░░ that by population growth ░░░░░░░░ inflation Use that number ░░░░░░░░ a base and then ░░░░░░░░ tough questions why are ░░░░░░░░ spending 10 percent more ░░░░░░░░ that?”